Hey guys, my name is Tyler. I am considering getting a M715 as a project.

I say considering because I also like the Jeep gladiators (civillian models M715). These however seem rather hard to come by compared to M715, which I have found about a dozen of. I am very patient and it may be a while before I even buy the project, I would like to first get all of my ducks in order and do research before I invest any money. Anyway on to the questions.

I have a few questions about these trucks:
1: I know that these trucks were designed for military cargo purposes, and because of this have 5.something gearing. This makes going over about 45 mph impossible. I want to be able to use this on the highway and be able to go 70-80mph. What modifications need done to achieve this? I dont plan on running the regular bulky tires, and I know I will need to change the gear ratio, probably by doing an axle swap. Opinions/suggestions on how to achieve this?

2: I dont plan on keeping the stock tornado motor. It has 132hp, and parts are hard to come by. What engine/transmission/transfer case combo would be best? I realize this is somewhat opinion based, but I would like something that is fairly cheap/easy to come by, doesn't have many clearance issues, and has the power needed to move this thing fairly easily, maybe even tow if needed.

3: What are the worst spots that rust in the M715? How much rust is acceptable and how much rust is too much? I live in Texas and most cars I work on are newer so I am very uneducated on rust.

4: Any other suggestions on a prospective M715 owner?